0001193125-13-240753.txt : 20130530 0001193125-13-240753.hdr.sgml : 20130530 20130530110313 ACCESSION NUMBER: 0001193125-13-240753 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20130528 ITEM INFORMATION: Changes in Registrant's Certifying Accountant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130530 DATE AS OF CHANGE: 20130530 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PowerShares DB Multi-Sector Commodity Trust CENTRAL INDEX KEY: 0001367306 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33229 FILM NUMBER: 13880288 BUSINESS ADDRESS: STREET 1: C/O DB COMMODITY SERVICES LLC STREET 2: 60 WALL STREET CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: (212) 250-5883 MAIL ADDRESS: STREET 1: C/O DB COMMODITY SERVICES LLC STREET 2: 60 WALL STREET CITY: NEW YORK STATE: NY ZIP: 10005 FORMER COMPANY: FORMER CONFORMED NAME: DB Multi-Sector Commodity Trust DATE OF NAME CHANGE: 20060626 FORMER COMPANY: FORMER CONFORMED NAME: DB Multi-Sector Trust DATE OF NAME CHANGE: 20060623 FILER: COMPANY DATA: COMPANY CONFORMED NAME: POWERSHARES DB SILVER FUND CENTRAL INDEX KEY: 0001383054 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 870778072 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33234 FILM NUMBER: 13880291 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PowerShares DB Gold Fund CENTRAL INDEX KEY: 0001383055 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 870778067 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33231 FILM NUMBER: 13880292 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PowerShares DB Precious Metals Fund CENTRAL INDEX KEY: 0001383057 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 870778065 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33244 FILM NUMBER: 13880293 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PowerShares DB Oil Fund CENTRAL INDEX KEY: 0001383058 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 870778062 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33242 FILM NUMBER: 13880294 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PowerShares DB Energy Fund CENTRAL INDEX KEY: 0001383062 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 870778060 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33240 FILM NUMBER: 13880295 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: POWERSHARES DB AGRICULTURE FUND CENTRAL INDEX KEY: 0001383082 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 870778078 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33238 FILM NUMBER: 13880289 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: POWERSHARES DB BASE METALS FUND CENTRAL INDEX KEY: 0001383084 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 870778075 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33236 FILM NUMBER: 13880290 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 8-K 1 d545730d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report: May 28, 2013

 

 

POWERSHARES DB MULTI-SECTOR COMMODITY TRUST

(Registrant)

POWERSHARES DB ENERGY FUND;

POWERSHARES DB OIL FUND;

POWERSHARES DB PRECIOUS METALS FUND;

POWERSHARES DB GOLD FUND;

POWERSHARES DB SILVER FUND;

POWERSHARES DB BASE METALS FUND;

POWERSHARES DB AGRICULTURE FUND

(Co-Registrants)

(Exact Name of each Registrant as Specified in its Charter)

 

 

 

PowerShares DB Multi-Sector Commodity Trust– Delaware   87-0778053

(State or Other Jurisdiction of

Incorporation or Organization)

  

(IRS Employer

ID Number(s))

c/o DB Commodity Services LLC
60 Wall Street
New York, New York		  

10005

(Address of Principal Executive Offices)   (Zip Code)

001-33229; 001-33240; 001-33242; 001-33244; 001-33231; 001-33234; 001-33236; and 001-33238

(Commission File Number(s))

(212) 250-5883

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 4.01 Changes in Registrant’s Certifying Accountant.

(a) On May 28, 2013, the Board of Managers of DB Commodity Services LLC, the managing owner (the “Managing Owner”) of PowerShares DB Multi-Sector Commodity Trust (the “Trust”), PowerShares DB Energy Fund, PowerShares DB Oil Fund, PowerShares DB Precious Metals Fund, PowerShares DB Gold Fund, PowerShares DB Silver Fund, PowerShares DB Base Metals Fund and PowerShares DB Agriculture Fund (each a “Fund” and collectively, the “Registrants”), on behalf of the Registrants, dismissed KPMG LLP (“KPMG”) as the independent registered public accounting firm for the Registrants, effective May 28, 2013.

The reports of KPMG on each of the Registrants’ financial statements as of and for the two most recent fiscal years (ending December 31, 2012 and December 31, 2011) did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainties, audit scope or accounting principles.

During each of the Registrants’ two most recent fiscal years (ending December 31, 2012 and December 31, 2011) and during the period from the end of the most recently completed fiscal year through the date of this Form 8-K, there were no disagreements between any of the Registrants and KPMG on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of KPMG, would have caused it to make a reference to the subject matter thereof in its report on the financial statements of the Registrants for such periods.

During each of the Registrants’ two most recent fiscal years (ended December 31, 2012 and December 31, 2011) and during the period from the end of the most recently completed fiscal year through the date of this Form 8-K, there were no “reportable events” (as defined in Regulation S-K Item 304(a)(1)(v)).

The Managing Owner, on behalf of the Registrants, has provided KPMG with a copy of the foregoing disclosures and has requested that KPMG furnish it with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements made by the Registrants set forth above. A copy of KPMG’s letter dated May 30, 2013 is filed as Exhibit 16.1 to this Form 8-K.

(b) On May 28, 2013, The Board of Managers of the Managing Owner, on behalf of the Registrants, approved the engagement of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the Registrants, effective May 28, 2013. During each of the Registrants’ two most recent fiscal years (ended December 31, 2012 and December 31, 2011) and during the period from the end of the most recently completed fiscal year through the date of this Form 8-K, PricewaterhouseCoopers LLP has not been engaged as either the principal accountant to audit any of the Registrants’ financial statements or as an independent accountant to audit a significant subsidiary of any of the Registrants and on whom KPMG was expected to express reliance in its report. In addition, during each of the Registrants’ two most recent fiscal years (ended December 31, 2012 and December 31, 2011) and during the period from the end of the most recently completed fiscal year through the date of this Form 8-K, neither the Registrants, the Managing Owner, nor anyone on their behalf consulted with PricewaterhouseCoopers LLP, on behalf of the Registrants, regarding the application of accounting principles to a specified transaction (either completed or proposed), the type of audit opinion that might be rendered on the Registrants’ financial statements, or any matter that was either the subject of a “disagreement,” as defined in Item 304(a)(1)(iv) of Regulation S-K and the instructions thereto, or a “reportable event,” as defined in Item 304(a)(1)(v) of Regulation S-K.

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit
No.

   

Description

16.1    Letter dated May 30, 2013 from KPMG LLP to the Securities and Exchange Commission confirming the disclosures contained in Item 4.01 of this report on Form 8-K.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:  

/s/ Martin Kremenstein

  Name:   Martin Kremenstein
  Title:   Chief Executive Officer
By:  

/s/ Michael Gilligan

  Name:   Michael Gilligan
  Title:   Chief Financial Officer
PowerShares DB Energy Fund, a series of PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:  

/s/ Martin Kremenstein

  Name:   Martin Kremenstein
  Title:   Chief Executive Officer
By:  

/s/ Michael Gilligan

  Name:   Michael Gilligan
  Title:   Chief Financial Officer
PowerShares DB Oil Fund, a series of
PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:  

/s/ Martin Kremenstein

  Name:   Martin Kremenstein
  Title:   Chief Executive Officer
By:  

/s/ Michael Gilligan

  Name:   Michael Gilligan
  Title:   Chief Financial Officer

PowerShares DB Precious Metals Fund, a series of PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:  

/s/ Martin Kremenstein

  Name:   Martin Kremenstein
  Title:   Chief Executive Officer
By:  

/s/ Michael Gilligan

  Name:   Michael Gilligan
  Title:   Chief Financial Officer
PowerShares DB Gold Fund, a series of
PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:  

/s/ Martin Kremenstein

  Name:   Martin Kremenstein
  Title:   Chief Executive Officer
By:  

/s/ Michael Gilligan

  Name:   Michael Gilligan
  Title:   Chief Financial Officer
PowerShares DB Silver Fund, a series of
PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:  

/s/ Martin Kremenstein

  Name:   Martin Kremenstein
  Title:   Chief Executive Officer
By:  

/s/ Michael Gilligan

  Name:   Michael Gilligan
  Title:   Chief Financial Officer
PowerShares DB Base Metals Fund, a series of
PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:  

/s/ Martin Kremenstein

  Name:   Martin Kremenstein
  Title:   Chief Executive Officer
By:  

/s/ Michael Gilligan

  Name:   Michael Gilligan
  Title:   Chief Financial Officer

PowerShares DB Agriculture Fund, a series of
PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:  

/s/ Martin Kremenstein

  Name:   Martin Kremenstein
  Title:   Chief Executive Officer
By:  

/s/ Michael Gilligan

  Name:   Michael Gilligan
  Title:   Chief Financial Officer

Date: May 30, 2013

EX-16.1 2 d545730dex161.htm EX-16.1 EX-16.1

Exhibit 16.1

May 30, 2013

Securities and Exchange Commission

Washington, D.C. 20549

Ladies and Gentlemen:

We were previously principal accountants for PowerShares DB Agriculture Fund, PowerShares DB Energy Fund, PowerShares DB Oil Fund, PowerShares DB Precious Metals Fund, PowerShares DB Gold Fund, PowerShares DB Silver Fund, and PowerShares DB Base Metals Fund, “the Registrants”, (each a fund and collectively comprise the PowerShares DB Multi-Sector Commodity Trust), and, under the dates of February 22, 2013 and March 1, 2013, we reported on the financial statements of the Registrants as of and for the years ended December 31, 2012 and 2011, (and the effectiveness of internal control over financial reporting as of December 31, 2012). On May 28, 2013, we were dismissed. We have read DB Commodity Services LLC’s, the “Managing Owner”’s statements, made on behalf of the Registrants, included under Item 4.01 in the Form 8-K dated May 30, 2013, and we agree with such statements, except that we are not in a position to agree or disagree with the statements in Item 4.01(b).

Very truly yours,

/s/ KPMG LLP